According to a report on June 25 in Tehran, Iran has become the second largest producer of petrochemical products in the Persian Gulf. Iran’s petrochemical output has accounted for 27% of the total production of petrochemical products in the Persian Gulf region. Saudi Arabia is the largest producer of petrochemical products in the Persian Gulf region. Its petrochemical output accounts for 50% of the total production of petrochemical products in the Persian Gulf region. The countries ranked third to seventh are Qatar, Kuwait, Oman, United Arab Emirates and Bahrain. It is predicted that the nominal petrochemical production capacity in the Persian Gulf region will reach 155 million tons by 2015, and this figure will account for 20% of global production. Iran plans to implement 47 petrochemical projects before the end of the fifth five-year social and economic development plan in 2015. Iran’s total petrochemical product capacity will increase by 43 million tons annually. Once these projects are put into production, Iran will account for at least 5.3% of the world's total petrochemical output and 36% of the production in the Middle East.
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